Xiaomi announced its financial performance for the first quarter of 2025 on Wednesday, revealing an unaudited consolidated revenue of ₹1.31 lakh crore for the January to March period. This achievement marks the second consecutive quarter in which the company exceeded the ₹1.2 lakh crore threshold. The tech firm reported a significant year-on-year (YoY) growth of 47.4 percent compared to the same period last year. Furthermore, its adjusted net profit reached ₹12,680 crore, reflecting a YoY increase of 64.5 percent.
Xiaomi Attributes Growth to Premiumisation Strategy
In its press release, Xiaomi reported positive revenue figures across all business segments for Q1 2025. The company attributed its success to a premiumisation strategy aimed at transitioning its product lineup from budget options to higher-margin, premium devices, which have been well received by consumers.
During the quarter, Xiaomi’s smartphone revenue rose by 8.9 percent YoY, amounting to ₹59,961 crore. A standout performer was the Xiaomi 15 Ultra, launched in February, which saw a remarkable sales increase of 90 percent compared to its predecessor over the same timeframe last year. The company also highlighted that its average selling price (ASP) for smartphones reached a record high of ₹14,372 in Q1 2025.
In addition, revenue from the Internet-of-Things (IoT) and smart home devices surged by 58.7 percent YoY, totaling ₹38,276 crore. Key products in this category included washing machines and refrigerators. Xiaomi’s ventures into Electric Vehicles (EVs), artificial intelligence (AI), and other innovative initiatives generated ₹22,041 crore in revenue, with the Xiaomi SU7 Series vehicles contributing to a total of 75,869 units shipped.
Xiaomi reported global smartphone shipments of 4.18 crore units during the quarter, marking continuous YoY growth for seven straight quarters. According to data from Canalys (now part of Omdia), the company maintained its position among the top three smartphone brands for the nineteenth consecutive quarter, achieving a market share of 14.1 percent.
Regarding its IoT and smart home segment, Xiaomi disclosed that air conditioner shipments exceeded 1.1 million units, reflecting an impressive 65 percent YoY growth. Shipments for refrigerators and washing machines also showed strong performance, with 880,000 and 740,000 units shipped, respectively.
Additionally, Xiaomi noted a 56.1 percent YoY increase in global tablet shipments, although specific shipment numbers were not provided. The company also reported that the number of users with five or more connected devices on its AIoT platform (excluding smartphones, tablets, and laptops) reached 19.3 million, representing a 26.5 percent YoY growth. Furthermore, the monthly active users of its Mi Home App and AI Assistant hit 106.4 million (up 19.5 percent YoY) and 146.7 million (up 17.5 percent YoY), respectively.
